Spot information: Rubber spot price: Full latex: 16,900 RMB/ton, No. 20 rubber: 16,150 RMB/ton, 3L: 17,000 RMB/ton, No. 3 cigarette adhesive: 23,800 RMB/ton.

Market analysis: The State Council Information Office held a press conference to release significant positive news, driving the market to resonate upwards. Rubber, due to its good fundamentals, experienced a surge in prices, but attention should be paid to whether there was a digestion of the market after the surge or the emergence of a volatile pullback market. Fundamentally speaking, during the peak season of rubber cutting, although there is a significant increase in global supply, the decline in raw material prices is limited, and the import volume is lower than in previous periods. At the same time, the rotation of new and old warehouse receipts from the previous period will begin in September, with smooth digestion and inventory clearance. The logic of new rubber trading in contract 01 is that the cost of new rubber and imports bring favorable prices.

Fundamentally, during the peak season of rubber cutting, the supply has increased, and there has been a certain recovery in Thailand's supply. In terms of domestic atmosphere, the operating rate of domestic tires has declined due to maintenance and tire inventory accumulation. The operating rate of semi steel tires remains at around 80%, while the operating rate of all steel tires is less than 60%. Starting from July, anti-dumping duties will be imposed on Europe and the United States, and downstream construction will be closely monitored.

The global supply of rubber is gradually recovering, and we are paying attention to factors such as domestic rubber imports and inventory changes.

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